• Business

by Jeroslyn JoVonn

May 5, 2023

50 Cent, Shaquille O’Neal, And Kenya Barris Look to Combine Efforts to Purchase BET

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50 Cent, Shaquille O’Neal, and Kenya Barris are the latest honchos reportedly in “deep” talks to purchase BET.

Sources with direct knowledge confirmed that 50 Cent and Barris were at the Paramount offices in New York City earlier this week to discuss purchasing the network, TMZ reports. It’s said 50, Shaq, and Barris have cash in hand and the help of an investment firm.

The trio is among a list of Black moguls who have their sights set on acquiring the long-running network. While no deal has been closed, 50, Shaq, and Barris appear to be in good standing.

“It’s not a done deal, but they’re deep in it,” a source alleged.

A conglomerate with 50, Shaq, and Barris isn’t a bad look. 50 has acquired success on Starz with his “Power” universe and in February, the “In Da Club” rapper signed a non-exclusive broadcast direct deal with Fox to develop scripted dramas, live-action comedies, and animated series through his production company G-Unit Film & Television, Variety reports.

Kenya Barris comes with a long resume of producing, directing, and writing credits including the award-winning series Black-ish, Grown-ish, and Mixed-ish. Most recently, he released the Netflix film You People starring Eddie Murphy, Nia Long, Lauren London, and Jonah Hill.

Then there’s Shaq, an NBA champion with a reported $400 million net worth thanks to his entrepreneurial endeavors and endorsements, according to Clutch Sports. Together, 50, Shaq, and Barris are reportedly competing against media moguls Diddy, Tyler Perry, and Byron Allen.

Earlier this year, Paramount Global announced it is considering selling the majority of its stake to BET Media Group which includes the BET cable network and studio, VH1, and the streaming service BET+, according to Boardroom. The asking price for BET remains a mystery, but the network was sold for $3 billion 22 years ago.

RELATED CONTENT: Byron Allen Says Media Is Trying To Pit Him and Tyler Perry Against Each Other In Pursuit of BET Ownership

EGOT winner John Legend plays no games when it comes to his wife, Chrissy Teigen.

After the White House Correspondent’s Dinner this year, former FOX News anchor Megyn Kelly took the time to critique Teigen’s choice of dress.

“I see Chrissy Tiegen’s [sic] underpants,” she tweeted. “And her smug elitism.” She kept the attacks coming on her SiriusXM show by accusing the former Sports Illustrated model of having “minions” carry the train of her “nonexistent” dress.

In a conversation with TMZ, Legend did not hold back on setting the record straight on what he says is a desperate attempt by Kelly to receive right-wing praise. “Megyn, she likes attention,” he said.

“She needs it after getting fired from Fox, so she has to do what she can do to get attention.” The 12-time Grammy winner is never afraid to stand up to conservative trolling on behalf of others, as this is not the first time he’s taken a swing at the talking heads of the Trump world, a group that Legend says Kelly is vying to be let back into. “She pissed all the conservatives off when she asked Trump a tough question, so now she’s trying to figure out a way to win them back,” he added. “She’s desperate.”

The turn in support from the MAGA brigade happened when Kelly asked the former president about his affinity for referring to women as “fat pigs” and “slobs” during the 2015 Republican debate. Many on that side of the aisle felt she was badgering Trump to win over women in blue and red markets. Eight years later, it seems the journalist will swing at anyone for a little bit of press. For Legend, her jabs are useless as he posits that his wife is “very kind, very loving, very down to earth.”

That’s that on that.

• News

by Iman Milner

May 5, 2023

Atlanta Mayor Unveils Plan To Invest $200M Into Affordable Housing

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Atlanta Mayor Andre Dickens has revealed his plan to support the unhoused in the metro Atlanta area.

Standing alongside city leaders and a formerly homeless Atlantan, Dickens unveiled a $200 million effort to create affordable housing in the city. He said that this move is simply proof of his promise to stay committed to building and preserving 20,000 affordable housing units in Atlanta by 2030, according to Atlanta’s WSB-TV.

“Affordable housing has been central in my administration and today’s announcement is a game-changer in our ability to have projects keep pace with a rapidly evolving market,” Dickens said in a statement. The investment is being deemed as possibly the largest single investment in affordable housing in city history.

The Atlanta City Council will vote on whether to provide an extra $100 million for the effort, paid with municipal bonds.

As it currently stands, $100 million of the funding comes from the Woodruff and Whitehead Foundations, with money being devoted to either building new affordable housing units or preserving existing public housing units, such as the Academy Lofts.

“A lot of these will be a combination thereof,” Dickens said. “Some will be 20% affordable, some will be 50% affordable. If they’re seniors, housing could be 100% affordable.”

According to the City of Atlanta, the potential funds will authorize an additional $100 million housing bond to support the following initiatives: expedite the development of affordable housing on publicly-owned land; preserve affordability where it already exists with infusions of subsidy to provide safe, dignified and high-quality communities; and secure additional funding needed to get “shovel-ready” projects under construction.

Joining Dickens for the announcement was a formerly homeless Atlanta resident named Tonette Freeman. Freeman, who along with her lae husband, was unhoused for the better part of 20 years before getting the chance to live in affordable housing provided by Academy Lofts.

She shared advice with those in search of housing. “Just keep praying and asking for help,” she said. “Help is out there.”

For now, it seems that help has, indeed, arrived.

Sheryl Lee Ralph has teamed up with SONIC Drive-In for a million-dollar initiative in support of Teacher Appreciation Week.

The Emmy award-winning Abbott Elementary star has partnered with SONIC to help public school educators get the materials they need in the classroom, according to a press release. On Tuesday, the SONIC Foundation will match up to $1.5 million in donations to DonorsChoose, a nonprofit that allows people to donate directly to the classroom requests submitted by public school teachers across the country.

In addition to the hefty donation, SONIC is offering a free cheeseburger with purchase to all teachers enrolled in the SONIC Teachers’ Circle, a free rewards program exclusively for educators available through the SONIC App.

Who better than Ralph to help announce the initiative? She’s been praised for her portrayal of Mrs. Barbara Howard in Abbott Elementary, which highlights some of the challenges public school teachers face when trying to engage students due to a lack of funding.

“Public school teachers have dedicated their lives to inspiring America’s youth, and we must ensure they have all the tools they need as they shape the hearts and minds of our children,” Ralph said.

“I’m thrilled to partner with SONIC Drive-In for Teacher Appreciation Week to encourage people to come together and thank our educators by making a small contribution to get them the materials they desperately need.”

SONIC appears to be dedicated to helping public schools nationwide through their initiatives. Its SONIC Limeades for Learning initiative takes proceeds from every drink, slush, and shake purchase and donates to the SONIC Foundation, which supports local public education.

“SONIC is invested in supporting the local communities served by our more than 3,500 locations, and we’re proud of the impact we’ve made over the past 14 years through Limeades for Learning,” Lori Abou Habib, chief marketing officer of SONIC, said.

Those looking to support can visit DonorsChoose.org or text “GIVE” to 31869 and receive a direct link to a teacher’s classroom in their community.

RELATED CONTENT: Sheryl Lee Ralph To Give Commencement Speech At Rutgers University

• News

by Iman Milner

May 5, 2023

The Weeknd Partners With Blue Bottle Coffee On Product Line Named After His Mother

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Earlier this year, The Weeknd was deemed the most popular artist globally and now the Canadian-born singer has his sights set on dominating an entirely new industry while paying homage to his mother.

According to Variety, the Grammy winner has partnered with Blue Bottle Coffee on a new product line titled Samra Origins, aptly named after the singer’s mother. The line also honors The Weeknd, whose real name is Abel Makkonen Tesfaye, and his Ethiopian roots.

“Ethiopian culture is an important part of my identity and I’m proud to work alongside the Blue Bottle Coffee team to shine a light on Ethiopian traditions, values, and, of course, coffee,” said The Weeknd in a press release. “Growing up, I watched my mother perform Buna Tetu, a traditional Ethiopian coffee ceremony. This sensory experience helped shape my understanding of community and taught me to always honor my roots.”

The line of coffee products will become available on May 9. The limited release will highlight the Exceedingly Rare Ethiopia Wolde Faye Koricha COE #7, a single-origin blend that upholds centuries of traditions originated and perfected by Ethiopian coffee farmers, according to Variety.

The company credits its distinct flavor profile to its processing method as well as its country of origin. Blue Bottle will debut the whole bean blend later this summer, with bags available for purchase online, at $65, and in select Blue Bottle cafes in the U.S., where it will also be offered as a cold brew variation.

“Samra Origins melds my passion for giving back with the love of my ancestry. Ethiopia is the birthplace of coffee and I know Samra captures that quality while punctuating the special place Ethiopia has in my story,” The Weeknd told Variety.

Fans of the singer can also breathe a sigh of relief now that his highly-anticipated HBO Max series, The Idol, officially has a June 4 release date. It’s gearing up to be a busy summer for The Weeknd.

For the first time in recorded history, the unemployment rate for Black Americans has fallen below 5 percent. According to the Bureau of Labor and Statistics, the rate reached 4.7 percent in April 2023. The rate at which Black people were unemployed hit its peak during the Covid-19 pandemic. In May 2020, it rocketed to a whopping 16.8 percent.   

Additionally, the gap between Black and white Americans has fallen from 5.4 percentage points to 1.6 percent. Black unemployment has only been recorded since 1972, since then the gap between Black and white unemployment has averaged at 6.1 percent.  

In an press release, President Joe Biden attributed these changes to his administration.  

“The unemployment rate is close to the lowest it has been in more than 50 years and a record low for African Americans. Thanks to the policies we have put in place, the recovery is creating good jobs that you can raise a family on, which is pulling more Americans into the labor force. In fact, the share of working age Americans in the labor force is at a 15 year high,” Biden stated back in April.

Although more Americans are employed overall, many are still feeling the effects of inflation. According to the report released by the Bureau of Labor and Statistics, wages increased by 4 percentage points on average while inflation reached 5 percent in March. 

Black men over the age of 20 saw an unemployment rate of 4.5 percentage points which is the lowest recorded rate in history. This is not the case for their female counterparts. According to reports published by the labor department, Black women experienced a slight increase in unemployment rates.  

Additionally, there has been a significant increase in the number of Black women leaving the workforce to start their own businesses which may have had an impact on overall reports on employment rates. 

RELATED CONTENT: Unemployment Rates Still on the Rise for Black Women

Last Friday, the Greater Washington Urban (GWUL) League recently hosted its third annual Equity in Black & White Summit.

As one of the region’s longest-standing civil rights organizations working to advance racial equity among disenfranchised communities, the flagship affiliate of the National Urban League is led by President/CEO George Lambert. With a long career in the for-profit and nonprofit sectors, Lambert’s leadership qualities and increased call to action for dismantling structural racism continue to push the needle forward. 

Following this year’s GWUL summit, BLACK ENTERPRISE spoke with Lambert about being a thought leader in the DEI space, the greatest challenge in racial and social justice equity efforts, being a champion for change, and more. 

BLACK ENTERPRISE: What do you see as the greatest challenge to racial and social justice equity efforts?

George Lambert: In no uncertain terms, the stakes are high. There is a perception by those who oppose DEI efforts that marginalized groups are given an unfair advantage, and nothing is further from the truth. We have identified and continue to align with corporate leaders and companies genuinely embracing DEI. They are standing with us in changing the DEI landscape by addressing practices and decision-making through an equity lens.  

Tell us a bit more about your recent Equity in Black & White Summit.

We are continuing our series of programming designed as a response to a question that many are still asking. That question is, “What can we do?” Truthfully, it is time for us to stop asking questions and begin making statements. It is time to go beyond the metaphor, and it is time to align our actions with our rhetoric.

What is the purpose of the summit and who attends?

All of our supporters and attendees understand that this is the age of trust. We are fortunate to have top industry thought leaders to share ideas and best practices that we must employ to reach trust. Our main goal is to spark honest thoughts about DEI efforts in your company or organization and how you convert these thoughts and ideas to reform and change.

So with that said, what can we do to actively get involved in bringing forth effective change?

Trust is the new brand equity. Hold leaders and brands accountable. Use your equity filter to determine which brands demonstrate a will and commitment to lead with an equity lens.

For more information on the Greater Washington Urban League, please visit https://www.gwul.org/.

There are new murmurings about the possible return of “The Wendy Williams Show” and this time, a major network might get involved.

According to “The Rickey Smiley Morning Show,” CNN is looking to revamp its television content from polarizing and controversial news topics to more general news that resonates with wider audiences. As primetime ratings for the network plummet, via NY Post, CNN is allegedly looking to work with Wendy on a possible reboot.

“The world is going to be in a better place once Wendy Williams comes back,” Gary With Tha T said. “According to people close to Wendy, CNN is looking at Wendy Williams.”

The two are reportedly in talks to have a new daily talk show amid CNN’s onboarding of a “slate of new shows coming this Fall” including one with Gayle King and another with NBA star Charles Barkley, Gary explained.

“It’s being reported that the network approached Wendy Williams team and they’re exploring a potential reboot of Wendy Williams talk show on the new network,” Gary said.

With Don Lemon’s removal, there’s an open opportunity for their primetime slot. Fans have remained hopeful about the possible return of Wendy’s talk show after it was canceled last year and replaced with the “Sherri Shepard Show.”

In the time since Wendy’s show was canceled, there have been growing concerns surrounding her health which was said to be the reason behind her daytime talk show getting canceled, via E!. Wendy had been teasing her return in the form of a podcast dubbed “The Wendy Williams Experience” but her brief promos were often plagued with concerns from fans speculating about her health.

Last month, insiders confirmed the highly-anticipated podcast was canceled before it even launched due to Wendy’s health, The Sun reports.

“It’s strange, because she is saying there is no podcast, but is also telling people she’s going to return to TV,” a source said. “It’s hard to figure out what is based in reality.”

Hopefully, the latest reports are a reality and not just more hearsay. Wendy left a community of fans sad about her departure and hopeful for her return. But her health will ultimately be the deciding factor.

RELATED CONTENT: Wendy Williams Enjoys a Cocktail-Filled Night In NYC Following Rehab

• Lifestyle

by Jeffrey McKinney

May 5, 2023

Survey: Paying Bills More Difficult For About 40% Of Black Americans, Improving Financial Literacy Can Help Combat That

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When it comes to paying bills, Black Americans are finding it extra hard to cover regular costs.

According to a new survey on financial literacy, about 40% of those individuals are struggling to make ends meet. The discovery is tied to statistics from the 2023 Personal Finance Index report, part of the latest index done annually by the TIAA Institute and the Global Financial Literacy Excellence Center (GFLEC) at the George Washington University School of Business.

The research showed some alarming findings including 24% of Black Americans reported decreased retirement savings and 13% stopped saving completely because of inflation. But they are not alone as the data included nearly identical percentages for workers overall experiencing similar problems.

Further,  32% of Black Americans report debt stopped them from adequately addressing other financial priorities and bills, 27% say they certainly were unable to come up with $2,000 for an unexpected need, and 55% admitted not having one month of non-retirement savings. And financial literacy in areas such as saving, investing, purchasing, and comprehending risks among Blacks remained below 50%.

In a bothersome finding, the survey showed financial literacy levels were lowest among Blacks at 34%, behind 55% for Asians, 53% for whites, and 38% for Hispanics.

“Every year we say the findings are troubling, but this year, more than ever, we see how low levels of financial literacy in a volatile economy can lead to problems,” said Annamaria Lusardi, the report’s co-author. “It’s important we focus on helping people of all ages, races, and genders, especially the ones who are the most vulnerable.”

Melissa Shaw, TIAA Wealth Management Advisor, shared with BLACK ENTERPRISE via email it’s very difficult to be financially secure if you’re not financially literate. She added one thing from the report that stands out is overall, compared to those with a very high level of financial literacy, those with a very low level of financial literacy are more than four times as likely to have stopped saving for retirement (18% vs. 4%).

She explained when somebody reduces how much they save for retirement, it may not be just a one-time cut. People should consider that if they scale back their retirement savings so that it’s less than what their employers will match, they’re leaving free money on the table.

For instance, she notes, let’s say you make $55,000 a year, and your employer will match up to 3% of what you save. Your 3% would be $1,650, and it would spur another $1,650 from your employer. “The less you save, the less your employer will save for you.”

“To be sure, the financial literacy gaps have nothing to do with capability. They’re more likely because of systemic factors and demographic differences, such as age, education, and income. And there’s been a lot of great work done by groups who serve those communities, and that should absolutely continue. One thing we should also emphasize is the importance of financial education programs in both schools and at work.”

Shaw says there are about 20 states that require students to take financial literacy classes, and that number has been growing. She adds that more employers should do more to help employees learn about paying their bills and their financial wellness before they reach the age of retirement.

“Just like companies offer medical benefits, financial wellness benefits should also be a given,” she explains.

Besides what’s being done in schools, at work and in communities, though, people should talk to their employers about different options for retirement savings and future bills.

“And talk to a financial advisor,” Shaw says. “No matter what stage of life you’re at–repaying student loans, buying a house, sending your kids to college–the financial advisors can help tailor a plan to help you achieve your short- and long-term goals.”

Check out more details, including the methodology, on the survey here. 

• News

by Iman Milner

May 5, 2023

Florida Traffic Stop of 2 California Women Ends In Major Marijuana Bust

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A routine traffic stop in Florida’s Hernando County turned into a major marijuana bust resulting in major criminal charges for two California women.

According to NextShark, a Florida highway patrol officer was traveling southbound on Interstate 75 around 9:30 a.m. on March 31 when he noticed a white SUV trailing a semi-truck too closely. When he caught up to the SUV, the driver switched lanes and began traveling over the posted 70 miles per hour speed limit. The truck pull4r over after the trooper activated his lights signaling the stop.

The trooper claims that the smell of burnt marijuana emanated from the vehicle, according to the Hernando Sun, which reported the incident on April 3.

One passenger, identified as Toy Phaphon, 46, was on her stomach and claimed to be heading to a follow-up appointment for a recent BBL procedure. When asked about the smell, the driver, Jenny Khamphouvong, 39, said she had smoked marijuana while filling up the rental car at a gas station but denied having more marijuana inside the vehicle or on her person, according to NextShark. Another trooper soon arrived at the scene and felt there was probable cause to search the vehicle and its passengers.

The findings proved their suspicions were correct.

Behind the second row of seats in the SUV, a brown cardboard box closed with packing tape was found to be hiding several large vacuum-sealed packages that field tested positive for marijuana, according to the Hernando Sun. A second box with the same contents was also discovered along with a pair of suitcases and a napkin upon which the driver had written the description and prices of the products inside. When the search ended, troopers found 61 individual bags of marijuana weighing a total of 75.92 pounds.

Both women were taken into custody and booked into the Hernando County Detention Center on multiple drug charges, including trafficking.